Updates throughout
March 28 (Reuters) - Major brokerages still expect a slower pace of interest-rate cuts by the U.S. Federal Reserve ahead of the personal consumption expenditures (PCE) data, the central bank's preferred measure of inflation, due later in the day.
February's PCE numbers are anticipated to reveal a rebound in consumer spending and a rise in annual core PCE prices to 2.7%.
Meanwhile, U.S. President Donald Trump unveiled a 25% tariff on imported cars and light trucks set to take effect on April 3, forcing further uncertainty in U.S. financial markets.
Currently, traders expect two rate cuts of 25 basis points each for the year, according to data compiled by LSEG.
Here are the forecasts from major brokerages before the inflation report:
Brokerage | Total cuts in 2025 | No. of cuts in 2025 | Fed Funds Rate |
Deutsche Bank | No rate cut | 0 | 4.25-4.50% (end of 2025) |
25 bps | 1 (25 bps in June) | 4.00-4.25% (in 2025) | |
Goldman Sachs | 50 bps | 2 (25 bps each in June and December) | 3.75-4.00% (through December) |
J.P.Morgan | 50 bps | 2 (25 bps each in June and September) | 3.75-4.00% (through September 2025) |
Citigroup | 125bp | 5 (starting in May) | 3.00-3.25% (end of 2025) |
Barclays | 50 bps | 2 (25 bps each in June and September) | 3.75-4.00% (through September) |
Berenberg | No rate cut | 0 | 4.25-4.50% (end of 2025) |
Nomura | No rate cut | 0 | 4.25-4.50% (end of 2025) |
HSBC | 75 bps | 3 (25 bps each in June, September and December) | 3.50-3.75% (end of 2025) |
ING | 50 bps | 2 (H2 2025) | 3.75-4.00% (end of 2025) |
Wells Fargo | 75 bps | 3 (25 bps each in June, September and December) | 3.50-3.75% (end of 2025) |
BofA Global Research | No rate cut | 0 | 4.25-4.50% (end of 2025) |
(Compiled by the Broker Research team in Bengaluru; Editing by Anil D'Silva and Mrigank Dhaniwala)
((Kanchana.Chakravarty@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。